LGT Group Foundation Sells 13,049 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

LGT Group Foundation cut its position in Enphase Energy, Inc. (NASDAQ:ENPH) by 9.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 125,275 shares of the semiconductor company’s stock after selling 13,049 shares during the quarter. LGT Group Foundation owned 0.09% of Enphase Energy worth $16,886,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Baillie Gifford & Co. raised its stake in shares of Enphase Energy by 387,343.1% during the fourth quarter. Baillie Gifford & Co. now owns 4,079,776 shares of the semiconductor company’s stock valued at $539,102,000 after acquiring an additional 4,078,723 shares during the last quarter. Nordea Investment Management AB increased its holdings in Enphase Energy by 158.8% in the fourth quarter. Nordea Investment Management AB now owns 817,164 shares of the semiconductor company’s stock valued at $109,083,000 after purchasing an additional 501,385 shares during the period. Nomura Asset Management Co. Ltd. raised its position in Enphase Energy by 164.5% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 355,816 shares of the semiconductor company’s stock worth $42,751,000 after purchasing an additional 221,281 shares during the last quarter. DNB Asset Management AS lifted its holdings in Enphase Energy by 39.5% during the 4th quarter. DNB Asset Management AS now owns 627,983 shares of the semiconductor company’s stock worth $82,982,000 after buying an additional 177,686 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in shares of Enphase Energy by 348.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 223,436 shares of the semiconductor company’s stock valued at $29,525,000 after buying an additional 173,628 shares during the last quarter. 72.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Canaccord Genuity Group assumed coverage on Enphase Energy in a research note on Tuesday, January 16th. They issued a “buy” rating and a $142.00 price objective on the stock. Guggenheim downgraded shares of Enphase Energy from a “neutral” rating to a “sell” rating and set a $92.00 price target on the stock. in a research report on Wednesday, April 24th. Royal Bank of Canada decreased their price objective on shares of Enphase Energy from $140.00 to $130.00 and set an “outperform” rating for the company in a research report on Wednesday, April 24th. Roth Mkm restated a “buy” rating and issued a $140.00 target price on shares of Enphase Energy in a report on Wednesday, April 24th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Enphase Energy in a research report on Thursday, January 4th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $133.45.

Insiders Place Their Bets

In other news, Director Steven J. Gomo sold 20,000 shares of the company’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $104.69, for a total transaction of $2,093,800.00. Following the sale, the director now directly owns 118,360 shares in the company, valued at $12,391,108.40. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP David A. Ranhoff sold 5,000 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $116.29, for a total value of $581,450.00. Following the completion of the sale, the executive vice president now owns 119,948 shares of the company’s stock, valued at approximately $13,948,752.92. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Steven J. Gomo sold 20,000 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $104.69, for a total transaction of $2,093,800.00. Following the transaction, the director now directly owns 118,360 shares of the company’s stock, valued at $12,391,108.40. The disclosure for this sale can be found here. Insiders sold 54,285 shares of company stock valued at $6,148,228 over the last ninety days. 3.40% of the stock is currently owned by insiders.

Enphase Energy Stock Down 1.7 %

NASDAQ:ENPH traded down $1.82 during trading hours on Thursday, hitting $103.34. 1,625,523 shares of the company traded hands, compared to its average volume of 4,174,880. The company has a quick ratio of 3.78, a current ratio of 4.16 and a debt-to-equity ratio of 1.30. The company has a market cap of $14.06 billion, a PE ratio of 54.77, a PEG ratio of 3.89 and a beta of 1.50. The firm’s 50-day simple moving average is $116.67 and its 200-day simple moving average is $111.41. Enphase Energy, Inc. has a one year low of $73.49 and a one year high of $192.22.

Enphase Energy (NASDAQ:ENPH) last announced its earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.24 by $0.05. Enphase Energy had a net margin of 15.10% and a return on equity of 31.89%. The company had revenue of $302.57 million during the quarter, compared to the consensus estimate of $327.06 million. Equities analysts predict that Enphase Energy, Inc. will post 1.59 earnings per share for the current year.

About Enphase Energy

Enphase Energy, Inc, together with its subsidiaries, designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter, which converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control.